Indian Stock Market Report

Key Figures:

• Nifty 50: down by over 90 points
• Sensex: largely unchanged
• Rupee: settled flat at 90.91 against the US Dollar (USD)
• Gold rate: oscillating around $5,200/oz
• Silver rate: up over 1% in early morning Asian markets

Market Overview

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The Indian stock market ended largely unchanged, with a tug-of-war between early optimism and cautious profit-taking. Positive global cues from technology and metals supported sentiment at the open, but gains gradually faded as investors chose to trim exposure at higher levels. The IT sector continued to weigh on the broader mood, with sector-specific concerns driving noticeable underperformance and limiting index traction.

Sectoral Performance

• IT sector: persistent weakness continued to weigh on the market
• Non-banking segments: showed relative resilience, offering modest support to the benchmarks
• Bank Nifty index: reflecting buying interest at lower levels and intraday recovery strength

Technical Analysis

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• Nifty 50: immediate breakout zone at 25,600/82,600
• Bank Nifty index: immediate resistance at 61,400-61,500, support at 60,800-60,900
• Daily RSI: 58.43 reflects moderate bullish momentum with a positive bias

Market Experts' Views

• Shrikant Chouhan: current market texture is non-directional, traders waiting for breakout
• Sumeet Bagadia: Bank Nifty index reflecting buying interest at lower levels, intraday recovery strength
• Anuj Gupta: gold and silver rates to follow international triggers: Bank of Japan's interest rate decision and US-Iran talks outcome

FII-DII Data

• FII: finished as net sellers on Thursday, selling Indian stocks worth ₹3,466 crore
• DII: ended as net buyers, buying shares worth ₹5,032 crore

Currency Market

• Rupee: settled flat at 90.91 against the USD
• USD vs INR: volatility in global crude oil prices and a firm US Dollar against major rivals

Stock Recommendations

• IOC: buy at ₹186.50, target ₹200, stop loss ₹180
• Shriram Finance: buy at ₹1,400, target ₹1,500, stop loss ₹1,300
• JSW Energy: buy at ₹250, target ₹280, stop loss ₹220
• CESC: buy at ₹1,200, target ₹1,300, stop loss ₹1,100
• Policy Bazaar: buy at ₹1,800, target ₹2,000, stop loss ₹1,600
• IdeaForge: buy at ₹1,500, target ₹1,700, stop loss ₹1,300
• KEC International: buy at ₹4,000, target ₹4,500, stop loss ₹3,500
• Schneider Electric Infrastructure: buy at ₹250, target ₹280, stop loss ₹220